"Now let's say the tax side goes according to the White House's plan: Most of the Bush tax cuts are extended, but the break for income of more than $250,000 a year expires. Are we done? … In 2021, that scenario would leave the debt above 75 percent of GDP -- and growing. …it doesn't leave us at all prepared to deal with costs related to the retiring baby boomers. …
"Next year, the Bush tax cuts expire. If Congress does nothing, we revert to Clinton-era tax rates for everyone, and the federal coffers fill with $3.6 trillion in additional revenue over the next 10 years -- enough to stabilize deficits. …To govern responsibly, Democrats cannot simply raise taxes on the rich and call it a day."
Washington Post blogger Ezra Klein urging Democrats to let ALL of the Bush tax cuts expire -- not just those for the wealthy.
“In a moment of honesty, even a true blue lefty like Klein acknowledges the cost of Big Government, as well as the hollowness of Obama's class warfare rhetoric. Don't fall for it.”
Campaign for Working Families